President Buhari unveils plans to attract investors

Nigeria’s economy viable, promises ROI
President Muhammadu Buhari says Nigeria has the potential to attract and sustain Foreign Direct Investments (FDIs).

President Buhari who spoke while he addressed international investors in Paris, France yesterday said his administration was widening the space for investment.

The Federal Government, Buhari said, plans to spend $1.5 trillion on infrastructure upgrade, grant tax holiday and facilitate stress-fee repatriation of profits to stimulate investors’ interest in the economy.

The President also said the Petroleum Industry Act (PIA) will liberalise the oil and gas sector and open it up for private sector-driven investments.

“The implementation of this multi-sectoral strategy has contributed to the progress we have made in fighting insurgents and terrorists in the Northeast of the country.

“Working closely with international partners, we are firmly addressing the root causes of crimes, and taking measures to prevent and counter violent extremism.”

The President, who described Nigeria as the gateway for investments in Africa, urged investors to take advantage of the PIA and the country’s new drive for FDI.



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